The City of La Crosse has taken a problem and created a great solution. The Powell-Pogue-Hamilton and Washburn communities have suffered recently from a decrease in owner occupied homes and a a general downturn in neighborhood home pride. This neighborhood borders Cass Street on the north, West Avenue on the east, South avenue to the south and the Mississippi on the west side of the city.
The City of La Crosse is fighting this trend by creating the community program called the La Crosse Promise. If you purchase a home worth at least $150,000, or make at least $50,000 in renovations, you are eligible for a scholarship for your kids to local colleges and universities. You could receive up to $25,000 for one child or up to $50,000 for the household by taking advantage of this. Be aware that there are residency restrictions.
Local Lenders have created a special loan program to finance these purchases by raising the loan to value threshold for mortgage insurance from 80% to 95%, saving homeowners money every month.
If you are looking to purchase a home, check with human resources at your place of employment to see if they have a special program for purchasing homes in this area. You could save even more money.
For more information, check out the La Crosse Promise website.
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